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Correction: 20 day is near the border of overbought and neutral.
BobR
At 08:43 PM 10/21/97 -0400, G.John Boggio wrote:
>At 07:10 PM 10/21/97 EDT, you wrote:
>>Based on the work I do with my amoss indicator I will exit my long oex
>>call position if the oex goes below 928.68 and the VIX goes above 22.02.
>>I would enter into a long oex put position if this happens. I expect this
>>to happen tomorrow (wed 10/22)
>>
>>Good Luck
>>Ron McEwan
>>
>Realtraders,
>
> Based on my short-term charts, the SP Z7 and the general market is now
>OVERBOUGHT. If we get an up opening tomorrow, look for opportunities to
>initiate short positions or buy puts....This is for a short-term trade!!!
>
> Note, since the low set on Friday, we have NOT formed any symmetrical
>wave structures that would be useful in forecasting the magnitude of this
>pullback. Using other methods, I suspect a retracement back into the 95800
>to 96400 area is possible, at this time.
>
>John Boggio
>
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